Rebuilding Project in Central Andratx with Great Potential

€950,000

ES

  • finca

The Habio take

AI summary

This finca in the heart of Andratx presents a substantial renovation opportunity, featuring around 2,420 m² of potential residential and commercial space. Andratx, a historic town nestled in the Tramuntana Mountains, is known for its charming streets and vibrant local culture, just a 35-minute drive from Palma de Mallorca's airport.

  • historic
  • urban
  • investment
  • renovation

Highlights

  • Site area of approximately 1,613 m²
  • Potential for 2,420 m² of residential and commercial space
  • Possibility to create several residential units
  • Central location in historic Andratx
  • Close proximity to Palma de Mallorca

Worth knowing

  • Requires extensive renovation
  • Investment needed beyond purchase price

Good fit for: Ideal for investors or builders looking for a significant project in a historic setting.

Lifestyle scores

Beach
50
Walkable
65
Remote work
70
Family
60
Retirement
55
Airport access
60
Investment
75
Luxury
40
Value
65

About this place

Real Estate Mallorca : This rustic townhouse is a rebuilding project in the center of Andratx. This historic building makes the heart of the architects and builders beat faster.This exceptional reconstruction project offers enough space for approximately 1.613 m2 of land to expand around 2.420 m2 of residential and commercial space (according to building regulations of Andratx). The planning is as follows : underground garages and storage rooms for various residential units, on the ground floor a commercial area of approx. 850 m2 which can be extended, the first and second floor with approximately 725 m2 each, it offers enough space for several residential units. The existing storage rooms can also be converted into 2 apartments, each with approx. 100 m2 of living space. Subsequently, a single car parking space could be attached. This project is a real challenge in a very central location.Andratx is an old Mallorca down, situated in the valley of the Tramuntana Mountains. Here you can find a modern and interesting Mallorca art gallery. Its ancient, pretty and narrow streets and the rustic heritage make this village to an authentic place, which is definitely worth for a visit. Many bars and typical Mallorca restaurants make this small down so lovely. The weekly market day is very popular for the residents and the visitors alike. The capital Palma de Mallorca is about 30 minutes`drive away, while to the airport of Mallorca it needs about 35 minutes by car.This Mallorca renovation project is offering to you by Casa Nova Properties, Santa Ponsa in the southwest of Mallorca. There are no brokerage fees for the buyer.

Buying property in Spain

Full guide →

Spain welcomes foreign buyers with no nationality restrictions. The buyer needs an NIE (Número de Identidad de Extranjero) before completion, and most buyers open a Spanish bank account to handle the deposit and ongoing charges. An independent lawyer (abogado) is strongly recommended — the notario only checks the deed, not the wider title.

The buying process

  1. 1

    Get an NIE

    Apply for the foreign-resident tax number at a Spanish consulate, police station, or via a representative with power of attorney.

  2. 2

    Open a Spanish bank account

    Needed for the deposit, taxes, mortgage payments, and utilities.

  3. 3

    Engage an independent lawyer

    Lawyer runs title, debts, planning, and community-of-owners checks — the notario will not.

  4. 4

    Reservation contract

    Small deposit (€3,000–€10,000) takes the property off the market while due diligence runs.

  5. 5

    Sign the contrato de arras

    Private purchase contract with a 10% deposit. If the buyer pulls out they lose it; if the seller pulls out they pay double.

  6. 6

    Sign the escritura pública

    Final public deed signed before a notario; balance and taxes paid; keys handed over.

  7. 7

    Register the property

    Lawyer registers the deed at the Registro de la Propiedad and arranges utility and IBI transfers.

  • NIE (foreign tax number)
  • Spanish bank account(optional)

    Not legally required but standard practice

  • Passport / ID
  • Proof of funds / mortgage offer

Spain ended its Golden Visa property route in April 2025. Non-resident mortgages are widely available, typically 60–70% LTV. Non-resident sellers face a 3% withholding from the sale price (retención), claimable against capital gains tax. Always check community-of-owners (comunidad) debts and outstanding IBI before completion — they transfer with the property.

General guidance only — confirm specifics with a qualified local lawyer or tax adviser. Reference

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From

€950,000